Small Business Enterprises

Topics: Strategic management, Business, Strategic planning Pages: 33 (9576 words) Published: January 25, 2015

Table of Contents
Learning Outcome 1:4
Task 1.1:4
Identifying Strengths and Weaknesses in Premier Group Recruitment:4 Task 1.2:6
Analysis using Comparative Measures of Performance:6
Financial performance:9
Non-Financial performance:9
Staff Turnover:9
Personal Benefit, Growth and Development:9
Managers Support:9
Employee Morale:10
Customer Satisfaction:10
Learning Outcome 2:11
Task 2.1:11
Actions to Overcome Identified Weaknesses in the Business:11 Task 2.2:13
Ways to Maintain and Strengthen the Performance:13
Task 2.3:16
New Areas in which Business can be expanded:16
Market Development:19
Product Development:19
Product Differentiation:19
Horizontal Integration:19
Forward Integration:19
Learning Outcome 3:20
Task 3.1:20
Assessment of Existing Business Plans and Objectives:20
Task 3.2:21
Revision of Business Plans to Incorporate Appropriate Changes:21 Task 3.3:23
Action Plan to Implement Changes:23
Learning Outcome 4:25
Task 4.1:25
Impact of Change on Business and its Personnel:25
Task 4.2:27
Managing Change in Business:27
Task 4.3:29
Monitor Improvements in Performance of Business:29
List of References and Bibliography:32

Table of Figures

Figure 1 Internal and External Analysis5
Figure 2 Balanced Scorecard8
Figure 3 Comparative Performance Measures9
Figure 4 Total Quality Management Process12
Figure 5 Managing Employees Performance15
Figure 6 Ansoff's Growth Matrix17
Figure 7 Sources of Joint Venture18
Figure 8 Limitations of Sole-Proprietorship19
Figure 9 Internal and External forces that compel Change22
Figure 10 Kotter's 8 Step Change Model29

This assignment is based on Small Business Enterprise in which the case study is Premier Group Recruitment. Another small business Leap 29 is chosen for the comparison. These small businesses are service sector organisations providing recruitment services in IT, Media and Engineering. They are small businesses because their employees are less than 50 and their turnover is low as according to the definition of small businesses by European Union. Learning Outcome 1:

Task 1.1:
Premier Group Recruitment is a private sector service organisation which provides potential candidates to the client organisations who approach them. Premier Group Recruitment is ranked thirteenth position of UK’s Best 100 Small Companies as per The Sunday Times 2013. It is a small business enterprise as defined by European Union Small business is the one whose employees are 50 in number. They offer services in London, Reading, Manchester and Dubai. As Premier Group Recruitment is a small business enterprise so the information available is limited. There are some limitations in this assignment so assumptions have been made due to lack of information and description about the organisation chosen as case study. Identifying Strengths and Weaknesses in Premier Group Recruitment: “The internal analysis of a company helps the management in assessing their main strengths and weaknesses which is the key to strategic planning.”(Bratton and Gold, 2010) SWOT which is acronym of Strengths, Weaknesses, Opportunities and Threats is a tool to analyse the internal and external environment in which the business is functioning. To sustain in today’s economical environment organisations need to conduct the analysis of the business itself as well as the external environment that is the market analysis and competitor’s analysis. It is a tool used by management when new strategies are made and to know at what position the business is currently standing and how to improve the performance of the business utilizing the strengths and the opportunities available to the business. The potential and existing problems are highlighted and management reaches to the solutions of...
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